DAMPAK KEBIJAKAN DIVIDEN DAN KINERJA KEUANGAN TERHADAP NILAI PERUSAHAAN

Verine  Ika Nur Tristianti; Sapari Sapari

Verine Ika Nur Tristianti
Sapari Sapari

Keywords: current ratio, debt to equity ratio, return on equity, deviden payaout ratio, price book value

Abstract

The purpose of this study is to provide empirical evidence of the impact of dividend policy and financial
performance on firm value. The independent variable is measured by liquidity (CR), leverage (DER),
profitability (ROE). The population in the study of banking companies listed on the Indonesia Stock Exchange
during the 4-year period was 2015 to 2018. The sample selection using the purposive sampling method, the
number of samples obtained was 80 observational data. Based on the results of the analysis and hypothesis
testing it can be concluded that: 1) Liquidity has a positive effect on the value of the company, meaning that the
higher the liquidity, the value of the company will increase; 2) Leverage has a negative effect on firm value,
meaning that the greater the ratio shows the greater the obligations and the lower the ratio; 3) Profitability has a
positive effect on firm value, meaning that the higher the profit, the higher the company's ability; 4) Dividend
policy is not able to moderate the effect of leverage on the value of the company, this indicates that the dividend
policy is not able to increase the value of the company when leverage.
Keywords: current ratio, debt to equity ratio, return on equity, deviden payaout ratio, price book value.